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Nordstrom signs letter of intent to build new store at Tacoma Mall

23
Mar '06
Seattle-based Nordstrom Inc, a leading fashion specialty retailer, has signed a letter of intent with Simon Property Group, Inc, the country's largest owner, developer and manager of quality retail real estate, to relocate and build a new store at the Tacoma Mall.

The new, two-level, 144,000 square foot store is scheduled to open fall 2008. Nordstrom will remain open in its current location until the new store is completed.

Erik Nordstrom, President of stores for Nordstrom, said, "We have a strong commitment to maintaining and enhancing our existing store base."

"Relocating and building a new store in Tacoma gives us a chance to bring our newest design concepts to our long-time customers. The community has been very supportive of us over the past 40 years and we look forward to serving our customers here for many years to come," he added.

In addition to the new Nordstrom store, Simon announced a multi-year, multi-million dollar facelift of Tacoma Mall highlighted by a lifestyle expansion that will be located adjacent to the food court entrance off of South 48th Street and will occur in two phases.

The first phase, scheduled to start construction in early 2007 with a completion date of late that year, will consist of 45,000 square feet and feature seven to eight new stores, including restaurants. The second phase consists of approx. 60,000 square feet and will be located on the site of the current Nordstrom store.

Rick Sokolov, President and COO of Simon said, "This is a very exciting day for Tacoma Mall and its loyal shoppers."


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